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Struggling For Traction Cable has.......>

CABLE TECHS
CABLE TECHS: Struggling For Traction
Cable has come under renewed downside pressure again as the rally above Friday's
high and the 21-dma was quickly reversed yesterday around last week's highs of
1.2936, which is now pencilled in as a near-term top. A break above here would
expose 1.2958 (the July low) ahead of the 50-dma at 1.3043 and confirm a solid
base is forming. Failure to hold 1.2800 would see downside momentum build with
bears targeting the 1.2750 level and Aug 15 low at 1.2662.

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